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Debt Purchase Agreement Template for Denmark

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Key Requirements PROMPT example:

Debt Purchase Agreement

Document background
The Debt Purchase Agreement is a crucial document used in Danish financial markets for transferring debt portfolios between entities. It's particularly relevant when financial institutions, debt collection agencies, or investment funds seek to buy or sell debt portfolios. The agreement must comply with Danish financial regulations, including the Danish Financial Business Act, Debt Collection Act, and relevant EU regulations such as GDPR. This document typically includes detailed information about the debt portfolio, purchase price mechanisms, representations and warranties, and specific provisions required under Danish law. It's essential for portfolio transactions involving both commercial and consumer debt, requiring careful consideration of Danish consumer protection laws when applicable.
Suggested Sections

1. Parties: Identification of the seller and purchaser of the debt, including full legal names and registration details

2. Background: Context of the transaction, including brief description of the debt portfolio and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core transaction terms, including description of debt being sold and purchased

5. Purchase Price: Details of the purchase price, payment terms, and any adjustments

6. Completion: Conditions precedent, completion mechanics, and timing

7. Representations and Warranties: Seller's and purchaser's representations regarding the debt and their capacity to enter into the agreement

8. Transfer and Assignment: Legal mechanics for transferring the debt and related rights

9. Data Protection: GDPR compliance provisions and data handling requirements

10. Confidentiality: Confidentiality obligations regarding the transaction and debtor information

11. Notices: Communication procedures between parties

12. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Regulatory Compliance: Additional regulatory requirements if either party is a regulated entity

2. Servicing Arrangements: Include if there are ongoing servicing arrangements for the debt portfolio

3. True Sale Provisions: Detailed provisions ensuring true sale treatment, particularly important for regulated entities

4. Consumer Protection: Additional provisions if the debt portfolio includes consumer debt

5. Anti-Money Laundering: Specific AML provisions if required by the nature of the transaction or parties

6. Post-Completion Obligations: Any ongoing obligations after completion, such as information sharing or cooperation

7. Transfer of Security: Include if any security interests are being transferred with the debt

8. Tax Provisions: Specific tax-related provisions if there are significant tax implications

Suggested Schedules

1. Debt Portfolio Schedule: Detailed list and description of all debts being purchased, including account details, outstanding amounts, and status

2. Form of Transfer Documents: Templates for any transfer documentation required to effect the sale

3. Completion Checklist: List of all documents and actions required for completion

4. Excluded Debts: List of any specifically excluded debts or categories of debt

5. Related Security: Details of any security interests associated with the debt

6. Required Notices: Forms of notices required to be sent to debtors or other parties

7. Data Fields: Specification of data fields and format for debt information transfer

8. Power of Attorney: Form of power of attorney if required for debt collection

Authors

Relevant legal definitions







































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Relevant Industries
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Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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